Twin Butte Energy Ltd TBTEF

RE:Get back...

[cigarbutt1]

Pablo87,
The BIA law is pretty clear and straightforward on that.
Under BIA, with assets sold and the issue no longer being a going concern, ie like TBE,
the Receiver will distribute the money left, after professional fees, as a liquidating dividend.
-Secured creditors paid first (may have different levels of seniority here)
-Then, if secured made whole, unsecured creditors get paid (may have different classes with different seniority here)
-Then, and that's a very unusual and rare scenario, if unsecured made whole, equity holders get the rest.
BIA is rules based mostly and not principles based. Distribution of a liquidating dividend is not a grey area.